adding a card holder?

dd111

hi all thanks for checking out my thread.

I have just got (about 6weeks ago) my first credit card. Its with Vanquis at high interest as my credit report aint great I think.

Having checked my credit report today I can see my score is in the 700's and listed as 'fair'.
My partner's report says hers is 'poor', so pbviosuly I want to improve this.

My first thoughts for doing this is to add her as a cardholder on my credit card- does anyone know what would happen if I did?
-does this improve her rating
-will it lower mine
-does it link our reports


Any advice is greatfully received

thanks

YorkshireBoy

dd111 wrote: »

-does this improve her rating
-will it lower mine
-does it link our reports

- No
- Possibly (see below)
- Not usually (I understand some do, but not sure about Vanquis)

The best way to improve her credit rating (ignore credit scores) is for her to take out a credit facility or two in her own name.

InsideInsurance

dd111 wrote: »

My first thoughts for doing this is to add her as a cardholder on my credit card- does anyone know what would happen if I did?
-does this improve her rating
-will it lower mine
-does it link our reports

No across the board.

The account remains purely yours, she is just spending your available credit. As only you are liable it only reports on your records and so cannot impact her rating, creates no association and so cannot lower yours as you arent linked.

AmEx used to hold additional cardholders jointly liable, for their chargecards at least, but even then they still only reported it on the primary cardholder's files (at least in the last decade anyway)

YorkshireBoy

InsideInsurance wrote: »

AmEx used to hold additional cardholders jointly liable

I had Amex in mind when I posted earlier, but seem to remember M&S create(d) financial associations with additional cardholders too?